Hey everyone, Happy New Year! It’s now 2010 and we’re closer than ever to some major news. I hope you all had a fantastic break over the holidays – I know I did!
There’s a TON of information that needs to be broken down right now regarding the Iraqi Dinar and the current status of a 2010 RV on the Iraqi Dinar. After reading this article, please use the comments section to present rumors you may have heard – I will debunk or verify each dinar rumor as they are presented.
On with the 2010 Dinar RV news.
January 4, 2010: CBI (Central Bank of Iraq) did auction dinars. Here are the results:
The 1564 daily currency auction was held in the Central Bank of Iraq day Monday
4-1-2010 so the results were as follows :
Notes Number of banks
Auction price selling dinar / US $
Auction price buying dinar / US $
Amount sold at auction price (US $)
Amount purchased at Auction price (US $)
Total offers for buying (US $)
Total offers for selling (US $)
Dollar’s exchange rates / in Baghdad markets
242 million USD worth of IQD sold at the dinar price of 1170 per 1 USD. Here’s an interesting fact: The last time we saw an auction of this size (USD Bought) was the first auction of 2009, on January 5 2009. At that time the auction price for the Iraqi Dinar was 1171, where it had climbed over the year from about 1215 in early 2008…. less than two weeks later, the price moved ever so slightly to the rate we now see at every auction, 1170.
Now today we have a huge auction, which happens to be the first auction of the year, and it is once again a huge auction.
Other factors involved? Yes, I agree!
1171 to 1170 dinar rate is a tiny difference, you say? You bet! Huge at the same time? When you consider that the price was 1170 dinars every single day for the rest of 2009 – heck yes, that’s a big deal! The Iraqi Dinar is probably the most stable currency out there when you look at the exchange rate and how long the dinar currency has been at that rate.
No. Movement. At. All. For the entire year of 2009.
THAT is stability.That shows that Iraq CAN move forward. And I’m telling you that Iraq WILL move forward.
I’m betting on it.
So, lets hear it from the readers.
- Do you think we’ll see a movement in the Auction price of the Dinar shortly, based on what I just presented or any other info you have?
- Speaking of other info you may have, let’s hear your latest intel… and I’ll verify or debunk one at a time in true Dinar Speculation style.
Use the comments section, that’s what it’s here for!
Happy New Year, and best wishes to you all,
P.S. I know, I know… there’s a lot more to discuss and I have a lot of catching up to do after I took the holiday off. Never fear! I will be getting to it soon, I’m back to work full time and my favorite hobby is Dinar Speculation. Thanks for visiting, and thanks for not chewing my head off for missing two weeks of dinar news!